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Futurehomeowner? success story

futurehomeowner?

By futurehomeowner?,
in Credit Forum

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The last post in this topic was posted 3619 days ago. 

 

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futurehomeowner?

futurehomeowner?

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It is almost surreal that I am writing this post. This post is probably going to get pretty long but I will try to keep it within reason. I can’t thank the great members of this forum for their help during my process. I don’t want to name people specifically in fear that I will leave someone out. A huge thanks also goes out to the owners and the admins of this site. Without them my dream would have never had a chance.

 

2001: I opened a business. It did well for a few years but ultimately I had to close it. When I closed I had stopped paying ALL my bills because I thought they were property of the business and it wouldn’t affect me. Obviously I was wrong since I was a sole proprietor. I never checked my credit score but I would assume it was pretty low.

2005: I thought it would be smart to work with a debt consolidation company and get everything taken care of. Again, this was a failure. I not only wasted a ton of money but the SOL was restarted on a few of the accounts. Since payments were not possible, my credit again was neglected.

2010: We got married and it was time to be a grown up. I never checked my credit as I was completely ignorant to the entire process, but I was denied for a few credit cards. My wife had an active card or 2 but also had some credit blemishes in the past.

2013: March 11th to be exact. We now have 1 kid and planning for a 2nd. My wife really wants to own a house and get out of the rent cycle. I start looking around the internet to get our credit score. For 1 reason or another I ended up at Patelco Credit Unions website. I did an online mortgage app and found out that our credit scores were just horrible. Seeing these scores really put it into perspective how bad our histories were. I was really down in the dumps figuring that we would never own a house and my wife would be disappointed. After a few hours of internet searching I decided that we should file bankruptcy. I ended up on creditboards because there was a bankruptcy section. While looking around the site I read good ole Joseph C’s credit journey. I was amazed what he was doing and how much help he was given. This is when I realized that bankruptcy may not have been the answer. All of a sudden there was hope that I could correct 10 years worth of negligence. I made a promise to myself and to my family that this would never happen again.

 

I didn’t want to jump right into repair so I did almost 3 weeks worth of reading. I am not talking about here and there; I am talking about 4-5 hours of reading EVERY single day. On March 23rd the animal inside me was ready to get started. I started my credit repair journey and publicized it here. http://creditboards.com/forums/index.php?showtopic=509227

As listed in that thread here is a few exerts:

My current FICO is 538 and hers is 612

Our Goals: Buy a house in 1 year by: Getting my credit north of 620 and utilization under 10%, get my wife's credit over 700 with utilization under 10%

 

I felt that those are some pretty lofty goals that I set. I wasn’t sure that I could get it accomplished in that time frame but I was up for the challenge. During the next 12 months I was on this site every single day. It almost became an obsession. Every time our scores went up it was like a new high. I wanted more and more and more. I kept reading and reading and reading.

 

On my 1 year anniversary of my repair thread and the original goal date here is where we stood.

My current FICO is 538 700 and hers is 612 729

Our Goals: Buy a house in 1 year by (we did not buy a house but we had our pre approval) Getting my credit north of 620 and utilization under 10% (I crushed both of those goals), get my wife's credit over 700 with utilization under 10% (I crushed this goal as well.)

 

I was speechless when I saw the progress. In fact it almost brought me to tears.

 

2014: Today, October 20th, we closed on our house. The hundreds of hours that I have spent on my repair have now come full circle. At the beginning I was hopeful that this day would come but I was skeptical. 588 days after the start of my credit repair I can officially say that it has been a success.

 

My current stats as of 10/20/2014

I started the repair with tons of collections and 1 credit card.

Name/limit/balance

Emblem (going away tomorrow) $149 $0

Chase Freedom $6000 $3500 0% APR

Walmart (her) $3500 $0

Walmart (me) $2600 $0

Kays (her) $7000 $0

Kays (me) $5000 $0

Firestone $2400 $0

Pepboys $2200 $0

Merrick $3200 $980

Best Buy $1600 $0

Giant Eagle (grocery store) $1200 $250

Lane Bryant $1260 $0

Target $1400 $0

Total Rewards visa $3500 $650

Credit lines= $41009 Balance= $5380 13% util

 

Mortgage for $86,000

 

Me: 100% clean reports

Her: only negative that is left are student loans late payments from 2008. They are from AES and they will not budge on these.

 

Now I can concentrate on keeping our util low and adding prime cards with good rewards. Today is officially the end of one chapter and the beginning of a new one.

 

Again I want to say thank you to everyone that helped us through this journey. Hopefully I can pay it forward to any new people who come here looking for hope.

 

Here are links to my other threads:

http://creditboards.com/forums/index.php?showtopic=509227 credit journey

http://creditboards.com/forums/index.php?showtopic=524657 home buying journey

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futurehomeowner?

futurehomeowner?

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First off congrats on your success!!! :yahoo::yes2:

 

Second off, if you are serious, that is a great find!!!!

no lie. I actually found it by accident. There is a wall that comes out from the original wall. The seller told me that there is a fireplace mantle behind the wall. In the new wall there are a set of shelves built in. The bottom 2 shelves go about a foot back behind the wall so I was looking to see if there was a way that I could see the mantle. I was curious if it is something that we could restore and have a nice feature to the room. Then I saw the little yellow container tucked into the corner. At first I thought it was like mouse poison, I slowly picked it up and shook it. I could tell right away what it was. I peaked into it but didn't see the denom. I opened the lid and threw it up into the air.

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FromGoodtoGreat

FromGoodtoGreat

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First off congrats on your success!!! :yahoo::yes2:

 

Second off, if you are serious, that is a great find!!!!

no lie. I actually found it by accident. There is a wall that comes out from the original wall. The seller told me that there is a fireplace mantle behind the wall. In the new wall there are a set of shelves built in. The bottom 2 shelves go about a foot back behind the wall so I was looking to see if there was a way that I could see the mantle. I was curious if it is something that we could restore and have a nice feature to the room. Then I saw the little yellow container tucked into the corner. At first I thought it was like mouse poison, I slowly picked it up and shook it. I could tell right away what it was. I peaked into it but didn't see the denom. I opened the lid and threw it up into the air.

 

Man that is some good sh!t right there!!! I love it!

 

Congrats!!!!

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